It's a start....


Tuesday, 22 July 2014

Minimum Bet Limits

Following extensive consultation with wagering operators and punters, Racing NSW has announced the terms of minimum bet limits that Australian wagering operators will be required to comply with when betting on NSW Thoroughbred races.
Racing NSW Chief Executive, Mr Peter V’landys, said:
“The consultation process with wagering operators and punters was very constructive and informative. Racing NSW carefully assessed the submissions from all parties and has amended its previous proposal in light of those submissions.
“Racing NSW is confident that the conditions announced today are fair and practical for all parties, whether they are wagering operators, professional punters or recreational punters. All punters should be able to place a legitimate bet on NSW Thoroughbred races and should not be discriminated against by having their accounts closed or bets refused simply because they are successful.
“Racing NSW will monitor the conditions to ensure that they are fair and practical for all parties. If warranted, changes may be made periodically to achieve the right balance.”
The key points of the minimum bet limit conditions are as follows:
• Wagering operators are not to take actions such as closing a punter’s accounts, refusing to open a punter’s account or placing restrictions on a punter’s account solely to avoid complying with the minimum bet limit conditions. However, wagering operators are still able to take such actions for legitimate reasons including undisclosed bowlers (persons betting on behalf of other persons), responsible gambling, fraudulent activity, money-laundering and other integrity related reasons such as the punter being warned off or disqualified.
• Wagering operators are required to lay the odds displayed for fixed odds bets to the limits below. The minimum bet limit has been set at levels which are considered to be fair and balanced. Those levels were requested by most punters (although some professional punters requested higher levels) yet are still higher than what was requested by most wagering operators.
For Australian Wagering Operators with Net Assessable Turnover on NSW Thoroughbred races greater than or equal to $5 million
Race type Bet (Win and/or Each Way/*Win & Place)
Metropolitan NSW Thoroughbred races Wagering operator to lose a minimum $2,000 (*place component $800)
Non-Metropolitan NSW Thoroughbred races Wagering operator to lose a minimum $1,000 (*place component $400)

For Australian Wagering Operators with Net Assessable Turnover on NSW Thoroughbred Races less than $5 million
Race type Bet (Win and/or Each Way/*Win & Place)
All NSW Thoroughbred races Wagering operator to lose a minimum $1,000 (*place component $400)
• Recognising differences in the off-course environment where punting can be rapid fire to the point of automation, wagering operators are only required to bet to the limit once per horse for each customer or related customers (where there are bowlers betting on behalf of other persons).
• The minimum bet limit conditions apply to fixed odds bets placed after 9am on the day of the race (2pm for night race meetings) and do not apply in respect of bets placed as part of a betting exchange. They also do not apply to derivative bets such as best tote or exotic bets such as quinellas and trifectas.
• At this stage, the minimum bet limits will not apply to cash (non-account) bets placed in retail outlets, including interstate and NSW TAB agencies, hotels, clubs and pubs, primarily due to the difficulties associated with determining whether a cash bet in a retail outlet is a bowler bet placed on behalf of another person. It is important to note that retail wagering operators will still be required to comply with the minimum bet limits for bets placed by account holders, whether by internet, phone or in the retail outlets.
• Australian wagering operators will be required to comply with the minimum bet limit condition from 1 September 2014.
• Punters who believe that a wagering operator has refused their bet or excluded them in contravention of the minimum bet limit condition should initially raise the matter with the wagering operator to ascertain the reason for the refusal or exclusion. If they remain unsatisfied with the reason provided by the wagering operator, then they should lodge a formal complaint in writing with Racing NSW (minimumbet@racingnsw.com.au). Racing NSW will then investigate the complaint to assess, on the evidence available, whether the wagering operator appears to have breached the minimum bet limit condition and whether the wagering operator should be referred for prosecution.

Source: http://www.racingnsw.com.au/default.aspx?s=article-display&id=16086

Does this apply to best tote, etc ? Im guessing no, only fixed odds.

Does it apply to people who have previously been restricted?
For example can I now re-fund those accounts and from 1/9 bet on NSW fixed odds again?

Yes I believe so. Ladbrokes closed my account for commercial reasons so I am assuming they will legally have to re-open it?

Love this tweet:


Josh Nelms ‏@joshblackmarket Jul 21
September 1st, Inbox full: minimumbet@racingnsw.com.au
#minimumbetlimits

as pointed out in the other thread, it looks like the corps have an out -

• Wagering operators are not to take actions such as closing a punter’s accounts, refusing to open a punter’s account or placing restrictions on a punter’s account solely to avoid complying with the minimum bet limit conditions. However, wagering operators are still able to take such actions for legitimate reasons including undisclosed bowlers (persons betting on behalf of other persons), responsible gambling, fraudulent activity, money-laundering and other integrity related reasons such as the punter being warned off or disqualified.



What's to stop them declaring any accounts they do not want active as 'undisclosed bowlers' etc, which then forces the punter to complain to racing nsw & somehow prove they are legit?

It's a start but needs to be implemented & enforced consistently across all racing jurisdictions, & I wonder how much time & resources Racing NSW will commit to enforcement.

Love to be glass half full on this, but suspect these weasel corps will do whatever they can to avoid fully complying.

Not too sure UB.

For reference purposes, here's the email for complaints: minimumbet@racingnsw.com.au


Can't wait to see if they comply on September 1st. I'm gonna be giving Sportsbet and TAB a go and rip them when they don't let me on for a $5 bet at 1.01

Does anyone know whether the min bet rule applies only to over-the-phone fixed odds bets, or is it internet betting (if currently offered by the bookmaker) too?

Thanks.

Hi Pat123

Not sure on that one. One concern that I do have, that I have been advised of by senior management of a leading corporate is that the accounts are likely to be reopened but that they (this particular group) do not intend to comply with the new Racing NSW mandate. They are of the opinion that:

1. There are no legislative requirements for them to do so given that they are not licensed by Racing NSW; and
2. There are no clear penalties in place for any breach.

So in essence whilst it may be Racing NSW objective to force corporate bookmakers to comply in respect of NSW racing from September 1, there is simply no effective means to compel them to do so. I hope that I am proven wrong.

__________________
Regards


Paul Daily - Ratings2Win Pty Ltd (Director)
R2W Axis - Axis is Australia's leading horse racing software and database; with sophisticated form analysis tools and accurate performance ratings that include Hong Kong.
http://www.ratings2win.com.au/

Fortunately every bookmaker regardless of where they are licensed have to comply with the min bet rules - this according to Richard Irvine who was involved with the consultation process.